According to U.Today, a recent poll initiated by MicroStrategy chairman and cofounder Michael Saylor has revealed a strong bullish sentiment within the crypto community. The poll asked participants about their expectations for Bitcoin's annual appreciation in USD over the next ten years. The results suggest that a significant price boom for Bitcoin could be on the horizon.
Nearly half of the respondents expressed extreme optimism about Bitcoin's future, anticipating substantial annual appreciation that could propel the cryptocurrency to unprecedented levels. The poll results showed that 22.4% of participants expect a steady rise of 10% to 19% annually. Meanwhile, 18% are even more bullish, predicting an annual surge of 20% to 29%. A hopeful 10.8% of respondents anticipate a 30% to 39% increase each year. However, the majority, a whopping 48.8%, envision a staggering 40% annual appreciation for over a decade.
This optimistic sentiment comes at a time when Bitcoin is experiencing a significant downturn, having extended its drop near $60,000. Bitcoin recently extended its decline to lows of $60,581 in the early trading session today, marking a more than one-month low and a roughly 6% drop. This decline reflects lower demand for Bitcoin exchange-traded funds and monetary policy concerns, particularly about the Federal Reserve's ability to quickly reduce interest rates from a two-decade high.
Despite reaching an all-time high of $73,798 in mid-March, Bitcoin has lagged behind traditional investments like equities, bonds, and gold this quarter. However, as the crypto community keeps a close watch on Bitcoin's price movement in the short term, Saylor's poll reflects expectations for Bitcoin's growth over the next decade.
